RR Phantom
Location : Wasted Space Job/hobbies : Cayman Islands Actuary
| Subject: NZ: Banker spends millions on prostitutes Fri Mar 19, 2010 5:35 pm | |
| A New Zealand investment banker who spent millions of stolen dollars on prostitutes was caught after one of his clients watched a documentary on US fraudster Bernie Madoff, an Auckland court was told yesterday.
Stephen Versalko, 51, was sentenced to six years in prison for stealing nearly $NZ18 million ($14 million) over nine years from 2000, from his employer, ASB Bank.
Two prostitutes received $NZ3.4 million from Versalko and much of the rest went on wine, property and making interest payments to clients to keep the scam running, the Auckland District Court was told.
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